Rusk v. Van Norstrand
Wisconsin Supreme Court
APPEAL from the Circuit Court for Jefferson County. Action by the bank comptroller of this state upon a stockholders’ bond, executed by the defendant in October, 1860, to secure the holders of bills of the Kosbkonong Bank. The allegations of the complaint showing a breach of the conditions of the bond, are stated, in substance, in the opinion.
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APPEAL from the Circuit Court for Jefferson County. Action by the bank comptroller of this state upon a stockholders’ bond, executed by the defendant in October, 1860, to secure the holders of bills of the Kosbkonong Bank. The allegations of the complaint showing a breach of the conditions of the bond, are stated, in substance, in the opinion. It appears from the complaint that at the time of executing the bond, defendant was sole owner of the stock of said bank; that in December, 1860, be “ sold or pretended to sell” said stock to one Savage ; and it is alleged that the then bank…
1Opinion of the CourtCole, J.
The main question raised by the demurrer in this case, is as to who is entitled to bring this suit: whether the bank comptroller can maintain it; or whether it must be brought in the name of a receiver who may be appointed by the circuit court. The action is upon a stockholders’ bond, given by the appellant to the comptroller, in conformity to the provisions of the banking law, as an additional security to indemnify the bill-holders against any loss that may be sustained in case the securities deposited with the comptroller by the banking association shall be insufficient to redeem its…
2Cases cited1 opinion
- Van Steenwyck v. SackettWisconsin Supreme Court · 1864
3Cited by1 opinion
- Porter v. StateWisconsin Supreme Court · 1879